All too frequently, business planning is done only occasionally, usually while driving to and from work.
As long as people drive their own transport, they will experience accidents that can damage and disfigure those vehicles. By starting an auto paint shop, you can help to reverse the effects of accidents or age and restore vehicle exteriors to premium condition.
While you may operate your auto paint shop as a completely independent business, you may also decide to become a franchisee and take advantage of a nationally recognized chain. Study the various franchise opportunities that are available.
By purchasing a franchise, you can capitalize on a winning business model and avert some of the mistakes that people might commonly make in this line of business. If you decide not to buy a franchise, write out a detailed plan of how you will finance, market and run your business to make it successful.
Establish a legal entity for your company. This may be a sole proprietorship, partnership, limited liability company LLC or corporation. Since you will be dealing with expensive pieces of property on a regular basis, operating as a sole proprietorship or simple partnership can be financially risky, as any liabilities the business may incur to damages on vehicles become personal liabilities as well.
Find financing for your business. You may do this by soliciting either lenders or investors. Lenders engage in debt financing, which means that they lend you the money you need with the understanding that you will pay it back plus a certain amount of interest.
Investors, on the other hand, purchase a part of the business and enjoy a certain percentage of all future profits. For an auto paint shop, one effective way of raising financing would be by entering into a partnership with an investor in which you are the general partner and she is the limited partner.
In this way, you undertake all operational responsibility and financial risk, while the limited partner only risks whatever she invests.
Obtain all necessary licenses and permits. Your state and local governments may require you to get a general business license, as well as licenses specific to auto paint. Set up your place of business. This should consist of an office and waiting room, as well as at least one vehicle bay where you can perform the actual painting work.
Pick a location that enjoys high visibility due to proximity to busy streets and shopping centers. Purchase the necessary equipment for your business. Specifically, purchase high-grade auto painting equipment.
This includes the application sprayer, as well as equipment to protect the skin, eyes and lungs of the person doing the spraying. Also purchase paint removal and body repair equipment, as vehicles that need new paint jobs often have bent, rusty and damaged body sections. Place advertisements in local newspapers.In more than 1, cities across the US and Canada, Paint Nite turns ordinary neighborhood bars and pubs into painting parties with a twist.
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How to Open an Auto Body Shop. In this Article: Generating an Actionable Business Plan Assessing Your Start-Up Costs Researching and Appealing to Your Market Staffing, Registering, and Certifying Your Shop Community Q&A Opening an auto body shop can be a personally rewarding and financially lucrative business decision.
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May 02, · Reader Approved How to Open an Auto Body Shop. Four Parts: Generating an Actionable Business Plan Assessing Your Start-Up Costs Researching and Appealing to Your Market Staffing, Registering, and Certifying Your Shop Community Q&A Opening an auto body shop can be a personally rewarding and financially 92%(89).
by Body Shop Business Staff Writers. “Failure to plan is planning to fail” certainly applies to opening a new collision repair center. The Business Plan.